India story: The 1 trillion opportunity
In India, the Global Emerging Middle is expected to cross the 1 trillion USD threshold by 2021 as its ranks swell to 570 million, from 470 million in 2010.
PwC research has explored an important growth horizon, the ‘Emerging Middle’, which lies just below the middle segment and constitutes a significant, expanding, and largely untapped market. The Emerging Middle already accounts for 2.3 billion people globally. And it is only going to get bigger, given higher birth rates and above-average economic growth in many countries in the group. The Emerging Middle is estimated to represent a combined annual market in excess of 6 trillion USD by 2021.
Globally, businesses are looking at the 'Next 4 Billion' nations for growth, especially now, given the slowdown in mature economics. Businesses who function in this group (includes India, China, Indonesia parts of Africa and Latin America where over 4 billion of the world's 7 billion reside) have traditionally focussed on the middle and upper middle income tiers....